Market Wrap: Do-Nothing Markets Stay Steady as Bitcoin Sticks to $9,200

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 CoinDesk reports “Markets globally are mostly flat Tuesday, and bitcoin is trading sideways along with them.”
 

The price of bitcoin is stuck in the $ 9,200 price range as low volumes continue to plague the markets, said Katie Stockton, an analyst for Fairlead Strategies. “Bitcoin has been tethered to its 50-day moving average recently after having suffered a loss of short-term momentum in June.”

Bitcoin’s 50-day moving average is around $ 9,240 as of Tuesday.

 

Stockton says anything above that level would be a sign of bullish sentiment. “We would view a decisive move above the 50-day MA as an incremental positive because it would help prevent intermediate-term momentum from turning negative,” she added.

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